Cryptocurrency New Moons Are Ready! (Round 16) |
- New Moons Are Ready! (Round 16)
- Daily Discussion - August 12, 2021 (GMT+0)
- No, cardano is not overhyped. Let me explain why
- TIL that the first bitcoin faucet gave 5 BTC per claim
- if governments used the blockchain for their transactions, we could truly track where taxpayers' money was going....
- There are 3 Million members here. There is more than enough money in the crypto future to make everyone that's here right now a millionaire.
- Why is a cryptocurrency provision tucked into a 2,700 page infrastructure bill? It has NOTHING to do with infrastructure. Quietly tucking unrelated laws into bills just to get unpopular stuff passed through is why people hate DC politicians.
- Ethereum Has Burned $100 Million in Fees Since EIP-1559 Took Effect
- I'll fucking say it. Cardanᴏ is overhyped.
- Reminder: the Coin Bureau Guy has an AMA here later today
- WARNING: Do not ruin your life because of taxes like so many in 2018!
- People are still saying Cardano is overhyped? Now is literally the time to get in.
- To the guy who is so excited as he just bought his first NFT because only him owns it, look what took me 2 minutes to do. I own it too now.
- Most used abbreviations in the cryptospace and top 25 coins explained (as of august 2021)
- Full Review On Coinbase Debit Card After 2 Weeks
- TOKENOMICS 101: How to spot undervalued gems in a sea of shitcoins.
- When the old becomes the new! Vechain in effect!
- What is your strategy of taking profits …
- Logan Paul's Coin 'Dink Doink' Crashes 92% From ATH
- Poly Network hacker returns $258 million and holds an AMA to explain what happened
- Bitcoin does not Care about China, Elon Musk or 87 Year Old U.S. Senators as Bulls Remain in Charge of Price
- Doge is the 7th crypto by market cap. Let that sink in
- That stimulus check of $1200 would be worth over $8300 today if invested in BTC
- Ethereum Overtakes Mastercard in Market Valuation
- Anyone else here tired of the slang?
- There is no way people read these long text posts.
- Unpopular opinion: Doing well in crypto is actually more isolating and alienating than doing poorly.
| New Moons Are Ready! (Round 16) Posted: 11 Aug 2021 03:20 PM PDT Update (8-11): It has been really exciting to see the positive response to the launch of the scaling network for Moons. This is a big step towards getting them to the Ethereum mainnet, which is one of our main goals. Until then, however, it's important to remember that Moons still remain in beta on the Rinkeby testnet. During this period, using Moons outside the Vault or the scaling network is very risky - your Moons can get lost or they may not be migrated over to the mainnet. Specifically, trading Moons is against the terms of service. To deter this activity, we have removed several subreddits dedicated to trading Moons and will continue to monitor for similar subreddits. We encourage everyone to be patient and keep their Moons safe until we get to mainnet. Thank you! *** Update (8-11): According to this poll, a user was removed from this distribution. *** This distribution of Moons has been finalized, and Moons are being delivered to users with a registered Vault. Users who do not have a Vault yet will get their Moons when they create one through the Reddit app. This distribution is based on karma earned from 2021-07-07 to 2021-08-03. Here is the finalized list, with contribution scores signed by Reddit. Moons are r/CryptoCurrency's form of Community Points, a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community. [link] [comments]  | ||
| Daily Discussion - August 12, 2021 (GMT+0) Posted: 11 Aug 2021 05:00 PM PDT Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer:Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:
Useful Links:
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| No, cardano is not overhyped. Let me explain why Posted: 12 Aug 2021 01:09 AM PDT Currently, there is a post on the frontpage saying that ADA is overhyped. While the author has some points, most of them can be countered pretty easily. Let me explain Disclaimer: I am mainly comparing ADA to ETH in this post, and I do not prefer one coin over the other. While I will try to be as objective as possible, for transparency reasons I want you to know that I hold both of them in my personal Portfolio Let me now list all the arguments people use against Cardano "ADA doesn't have a working product" Actually, this isn't correct. First of all, they already have a working POS system, which can't be said about ETH. ADA already has a lot of strategic partnerships, for example the Ethiopian gouvernment, which is planning to use a licenced copy of the blockchain to store its students data. "ADA has been in development for years!" Yes, but so does any other crypto, ethereum is still in development, too. This is what makes it great. A working product is a less risky investment, but it also leads to less potential growth. IOHK is developing cardano slowly because they want to get it right and are backing it with research This approach is, in my opinion, the best possible one, as it should eliminate potential fatal errors before a full rollout. "ADA is only big because Charles is manipulating its community!" Charles is engaging with its community all the time, thats right. But he isn't shilling ada. Everything he says is backed by facts, the only thing he is doing is keeping the community updated on the project and providing transparency in the development process. In stark contrast to a lot of other crypto devs, which usually have limited community engagement, Charles is keeping the ADA community up to date, and I am thankful for that "ADA will never kill ETH" It doesn't have to. Multiple PoS chains can coexist, that's the point of decentralisation. Not being forced to use a certain service by a certain company. Charles himself never said that ADA is an eth killer, quite the opposite, he thinks ADA and ETH can co-exist I am really excited about the future of cardano because I think it is an amazing project with lots of potential. I will keep loading my bags with ada because I believe in it's team and technology But please take everything I said with a grain of salt, I am just a random person on the internet Edit: typo [link] [comments]  | ||
| TIL that the first bitcoin faucet gave 5 BTC per claim Posted: 11 Aug 2021 08:35 PM PDT
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| Posted: 11 Aug 2021 07:12 AM PDT ....but that'll never happen because keeping the common person in the dark is in their best interests - those they've been elected to serve. if they did this we would really see how much is wasted, how much goes into their back pockets and those of their friends. it would reveal inefficient, overpriced contracts given to businesses in return for bribes; expenses for lavish hotel rooms and dinners, not to mention simple costly mistakes born of incompetence. all of this could be on record - corruption could be evidenced and charges levelled. but no, it's too insecure; we need to raise taxes and implement regulation because the people don't know what's best for them. what a fantastic society we inhabit. [link] [comments]  | ||
| Posted: 11 Aug 2021 10:53 PM PDT We are still in the beginning phases boys. There will be billions of dollars pumped into this over the coming decades. Most people still don't even realize or even care about this stuff yet. Everyone is saying it can't be done. Everyone laughed at Mr. Lamborghini when you decided to go from making tractors to Super Cars, now look at what he has built. 20 years ago people were freaking about "texting" from their $400 flip phones. Now look how fast time have changed. You can make HD video calls with 100 people in 100 different countries, at the same time. Only 3 million members here, and probably half of them aren't even active. We are so early boys it doesn't even feel real. [link] [comments]  | ||
| Posted: 12 Aug 2021 02:08 AM PDT
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| Ethereum Has Burned $100 Million in Fees Since EIP-1559 Took Effect Posted: 11 Aug 2021 08:37 PM PDT
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| I'll fucking say it. Cardanᴏ is overhyped. Posted: 11 Aug 2021 02:20 PM PDT Cardanᴏ is way too overhyped and overvalued. How is it the 4th largest crypto without even a working product. All it has are promises, 'smart contracts coming soon'. There so many coins out there that actually have smart contracts. Harmony, Algorand, even fucking Tezos. The only reason it's even alive is because its the 'Ethereum Killer'. It's alive because of the FOMO of maybe, just maybe there's a chance that it might overtake ethereum. The only thing it has is a Charles Hoskinson, who's created an entire cult built on false promises. EDIT: lmao [link] [comments]  | ||
| Reminder: the Coin Bureau Guy has an AMA here later today Posted: 12 Aug 2021 12:23 AM PDT Many of us know and follow Guy from the Coin Bureau for updates and information on the latest developments and trends regarding the cryptosphere. He announced in his newsletter recently that he would to an AMA (ask me anything) on this subreddit. As agreed with the mods, he is scheduled to hold his AMA today, August 12th, at 4 PM UK time (11AM EST). Just a friendly reminder in case you have burning questions for our Guy! If you don't know who I am talking about, you might want to check out his YouTube channel, Twitter account or telegram group. [link] [comments]  | ||
| WARNING: Do not ruin your life because of taxes like so many in 2018! Posted: 11 Aug 2021 09:44 AM PDT See edit at bottom for answers to common questions. PREFACEObviously this is dependent on tax laws in your specific country. This post is primarily about the US and other countries with similar taxation laws. WHAT HAPPENEDIn the 2017 bull run, people saw crazy gains (10x-100x) and then traded without considering the taxable events and liabilities being created. Then when the 2018 crash happened they did not have money to pay their HUGE tax bill that was owed and ruined their financial life! HOW IT WORKSIf you bought $10k worth of a coin and it 20x to $200k in 2021, and then you trade it for any other coins, you have a realized gain of $190k. Assuming a 20% effective tax rate, you would owe $38,000 in taxes! Now if your portfolio dropped 80% back down to $40k and you did not harvest the tax loss (sell to realize the loss then rebuy) before the end of the year… you would STILL owe $38k in taxes for that year, which is your entire stack!!! WHAT TO DOIf you had substantial gains this year and traded during the peak earlier this year, the smart thing to do is to:
CONCLUSIONThere were many stories of people in 2018 who owed HUGE sums in taxes that were near their entire stack or even more because they didn't consider taxes and didn't plan ahead. Learn from their mistake so you don't repeat it! Hopefully we're in a 2nd leg of the bull run but don't risk being in this position if we're in a dead cat bounce and/or the market goes bearish. — EDIT: Want to answer the same questions I keep seeing get asked:
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| People are still saying Cardano is overhyped? Now is literally the time to get in. Posted: 11 Aug 2021 09:25 PM PDT "Wen smart contracts?" We see it everyday, we have for months, yeah it's taking a long time and they keep pushing it, but it's so close to going live. Why would you not wanna invest in something before it's massive? "It DoEsnT eVeN hAvE a WoRkiNg pRoDucT". Well DUH, now's the time to invest dummy. When smart contracts are up and running I bet you Charles is gonna announce some big partnerships and we could easily see $10-15 this bull cycle, hell maybe it actually kills ETH and they partner with Samsung or something crazy and it absolutely explodes, who knows? Nobody, but it is definitely not overhyped and I'm all in. My body is ready, Charles. See you savages on the moon🚀 [link] [comments]  | ||
| Posted: 12 Aug 2021 02:05 AM PDT
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| Most used abbreviations in the cryptospace and top 25 coins explained (as of august 2021) Posted: 12 Aug 2021 02:49 AM PDT As we welcome newcomers everyday to this sub it's nice to have a all you need to know abbreviations guide to get them started. When i first started reading up things (because DYOR) i came across terms i've never heard of. So here are some of the most common abbreviations you will come across while doing research about cryptos. In this list you can also find the top 25 crypto as of 12 august 2021 wich are explained in mostly 2 - 4 sentences. As i've taken some insparation from this post u/Layneeeee. I hope this list can help new people coming in and maybe help some people that are just lost in all the jargon people use. I've put sections in the list to also help make the list easier to read. Maybe i missed some, so if anyone want anything added, comment and i will update it! Top 25 cryptocurrencies (by marketcap) explained in 2-4 senctences:
Bonus: coins that fell out of the top 25 as of 8 march 2021:
Als with anything in crypto it's DYOR. When a coin is in the top 25 it doesn't mean it will stay there forever. Anything can happend. Also all the whitepapers are linked to the coin. So it's easy to to do your own research that way. Abbreviations for Regulatory Commissions:
Like standard currency, cryptocurrency is regulated by various bodies and commissions. These organizations create regulations to avoid fraud and illegal schemes (for the most part). Conversational Cryptocurrency abbreviations:
Because every online community has their own slang and jargon, we are no different. Read up on cryptocurrency slang that you might need when conversing with others. Financial abbreviations:
The ultimate objective os using cryptocurrency is to make money (we mostly say that we're in it for the technology). Most of the above abbreviations are combined slang from economic markets. Technical abbreviations:
Cybersecurity is a major element of using your cryptocurrency the best you can. Above are the most used abbreviations that developers and users can use. Blockchain and network Abbreviations:
Above are the most commonly used terms when referring to blockchains or trading networks. [link] [comments]  | ||
| Full Review On Coinbase Debit Card After 2 Weeks Posted: 11 Aug 2021 08:47 PM PDT I've been using the Coinbase debit card for over two weeks now and just wanted to share my review. The Coinbase Debit Card is nearly identical to a traditional debit card; however, it allows cardholders to use cryptocurrency in place of traditional monetary means to make purchases. Pros
Cons
I haven't even used it with any actual crypto currency because the 2.49% fee makes it not worth it. However, I've been paying with everything I can through USDC and I've already racked up $76.12 in stellar (the recent pumped helped). And that's only using it through Apple Pay as I haven't received the card in the mail yet. Every time I run out of USDC I just add more through Coinbase. It's free, no fees at all. I've been using a card that got me 2% cash back on everything and thought that was good. Now I'm getting double that AND being able to invest in a project I enjoy. It's like DCA too since you're "buying" coins every day, multiple times a day. If you don't like stellar, you can always convert your rewards to another currency in the app, or send it to another exchange and convert it there. I really see nothing wrong with the card and would recommend it to anyone. This is a great way to make extra crypto without wasting time doing surveys or games and it beats any other cash back credit card. TLDR: Coinbase Debit Card is a great way to stack Stellar coins. You get 4% cash back in the form of stellar. You can choose bitcoin as well but you only get 1%. No fees if you use USDC. Highly recommended. [link] [comments]  | ||
| TOKENOMICS 101: How to spot undervalued gems in a sea of shitcoins. Posted: 11 Aug 2021 01:14 PM PDT Tokenomics (token economics) are a series of metrics relating to a cryptocurrency such as supply, allocation, distribution, emission, and utility. In this post I will break down some of the most important things you should know while you DYOR. Tokenomics is the difference between making sound crypto investments vs yoloing into scamcoins or memecoins. Circulating and Maximum SupplyThis is one of the most important metrics to when evaluating a coins price. Circulating supply is the amount of coins that's currently in public hands and circulating in the market. Maximum supply is the total number of coins that will ever exist for a cryptocurrency. There won't be any more supply once a coin reaches its max supply cap as it is the maximum amount that can ever be mined or produced. For example, Bitcoin has a maximum supply of 21 million and about 18 million of that is currently circulating, whereas DOGE has a whopping current supply of 128 billion and no hard cap. Inflation and DeflationCryptocurrencies like Bitcoin have a maximum supply of 21 million. This makes it scarce and as demand for it increases, the price will subsequently increase. There are coins that don't have any cap on the maximum supply (e.g. Ethereum, DOGE). These are inflationary which means new coins are continuously minted and an equivalent increase in demand is required to match the increasing supply to maintain the price. For example, every 10 minutes 6.25 Bitcoin are mined and this keeps halving until the max cap is reached. In contrast, every 1 minute 10,000 DOGE is mined and there will never be a cap. Market capitalization (or market cap)Market capitalization (or market cap) is the total dollar value of all the the coins of a cryptocurrency that have been mined. It is calculated by multiplying the circulating supply by the price of a single coin at any given time. Investors use market cap to tell a more complete story than simply the price and compare value across cryptocurrencies. As a key statistic, it can indicate the volatility and growth potential of a cryptocurrency. Using supply and market cap we can judge what the price of a cryptocurrency can be relative to other ones. This is why some coins have various different prices even if they might have similar market caps. For example, if DOGE had the same market cap as Bitcoin (1.1 trillion) it would be worth only $7.98. However that is a massive upside of 2800% or 28x. Comparatively if Ethereum had the same market cap as Bitcoin, its price would be at $8.9k which is an upside of 290%. Basically, the larger the marketcap of a coin is, the more difficult it is to increase in price. You can view these calculations and comparisons easily on this website - The Coin Perspective . Allocation and DistributionCryptocurrencies are created in two ways: by fair launch, or by pre-mine. A fair launch is when a small community of people start collectively mining a coin or token. Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE) are examples of fair launched cryptocurrencies. There are no coin or token allocations for fair launch crypto. A pre-mine is when the team behind the project mint some or all of the coins or tokens before opening up the network to the public. It's common for pre-mined tokens to be allocated to the team and private investors such as venture capital firms with only a small percentage being sold to the public. Uneven distribution of coins is a risk factor as large holders can dump on the market and crash the price. Vesting and EmissionVesting applies to pre-mined cryptocurrencies and refers to how the coins or tokens are expected to be allocated over the coming months or years. There are also vesting schedules for when the founders or insiders of a crypto project are allowed to sell their coins to the market. You can check the vesting schedules of most cryptocurrencies on their respective websites. Unlocking or minting too many tokens at once or within a short timeframe can sink the price action of that token in the short term. Utility'Utility' is referred to as a use case and includes basically anything that drives demand for a cryptocurrency coin or token. For example, ETH is used for gas to power the Ethereum network. Basically more utility = more demand, which means price goes up. When you stake a cryptocurrency as a validator or a delegator, those coins or tokens are usually locked up for some period of time. This can supercharge positive price action during a parabolic run. ————— Combine this guide with my other post called everyone always says "DYOR" but never shows you how to DYOR., and you have fully equipped yourself with the knowledge required to confidently invest in the crypto space. tl;dr - These are, in my opinion, the bare minimum to look into before investing in any coin. Ideally, you want a deflationary coin with a max supply that had a fair launch or has a good vesting schedule that does not allow founders/whales to dump on the market and is distributed relatively equitably. A cryptocurrency with good tokenomics will succeed and have good price action in the long run. Hope this helps some people here that are new to the space! [link] [comments]  | ||
| When the old becomes the new! Vechain in effect! Posted: 11 Aug 2021 11:52 AM PDT
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| What is your strategy of taking profits … Posted: 12 Aug 2021 01:11 AM PDT What's your strategy of taking profits. My father (non invested) says take your initial money out about double and just let it ride… But I'm here to make money……if I find a good buy, why would I cut its ability short ? Any ideas ? Maybe wait til it 3 or 4 times to take initial money out ? I'm not talking shit crap moonshots. Please help or guide. [link] [comments]  | ||
| Logan Paul's Coin 'Dink Doink' Crashes 92% From ATH Posted: 11 Aug 2021 03:55 PM PDT
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| Poly Network hacker returns $258 million and holds an AMA to explain what happened Posted: 11 Aug 2021 10:33 PM PDT
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| Doge is the 7th crypto by market cap. Let that sink in Posted: 11 Aug 2021 11:56 PM PDT You hear lots of stories that people are burned out on this shitty meme coin, that's its dropping off its moon, and that it's nearing its peak Yet, it rises, because a bunch of "influences" shill people shit, instead of some actual good investment, such as ETH. I think I've lost faith in humanity. We, as a species, are too naive and easy to sell Some rich narcissist picks a low market cap coin, and shills it with barely a few words and people absolutely gobble it up. Bro... For real right now [link] [comments]  | ||
| That stimulus check of $1200 would be worth over $8300 today if invested in BTC Posted: 11 Aug 2021 03:25 PM PDT Based on a $1200 USD purchase of Bitcoin on April 15th, 2020. And if you invested it in Ethereum on April 15th, 2020, it would be over $24000. Damn that's some crazy numbers right there. Did anyone here actually invest the stimulus cash into crypto investments? And if so how are you looking so far? [link] [comments]  | ||
| Ethereum Overtakes Mastercard in Market Valuation Posted: 11 Aug 2021 05:15 PM PDT
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| Anyone else here tired of the slang? Posted: 12 Aug 2021 01:54 AM PDT I feel like every other post all I see is:
Like I get it, it's just language. But this sub wasn't always like this. My theory it's the large influx of wall street bets users who have come to the sub recently and are brining their slang with them. I'm getting a bit tired of it, anyone else? [link] [comments]  | ||
| There is no way people read these long text posts. Posted: 12 Aug 2021 03:37 AM PDT When I first started visiting here, every long post was posted buy a genius mathematician or day trader. Now, I estimate that I read one new informative post a day IF I'm on this sub an unhealthy amount. The minimum text rule seems necessary to minimize low effort posts, but now it's like people need to blab for 50 lines just to shill some turd or tell me why crypto is good. Idk, I just think most people (including me) skim these posts and vote based on a few criteria that can be gleamed in under a minute. [link] [comments]  | ||
| Unpopular opinion: Doing well in crypto is actually more isolating and alienating than doing poorly. Posted: 11 Aug 2021 12:35 PM PDT Think about it, everyone posts about having $10 bucks in ETH and how much they lost or how much they WOULDVE had if they hadn't sold so early, but you never see people post about how they got in early and they've been crushing it, because then they become a target. You also can't talk to people/friends/family in real life about it cuz they'll think you're rich and come at you for money or even worse try to break into your house to find it. This post goes out to those silent lurkers that are crushing it and can't tell anyone. I see you, bud. I'll meet you on the moon🚀 [link] [comments]  |
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